quality specs - the eight elephants, page-10

In answering your question nokk, after 12 years of client advising it was time for a new challenge. The speculative side, whilst being very rewarding for clients and myself became quite intense and forming a small fund was an idea I tried to initially put together during the GFC. We went ahead and built some significant stakes in a number of juniors, however this was spread over a few hundred portfolios. Luckily before I left some were entering their mid life crisis, and my timing couldn't have been better.

I was one of the original posters on this site (early 1998 on the old version) and I will put forward the odd post until I become restricted from posting again. (Might be a week or two).

Despite being barred from posting I have met many people(some now friends), and owe much of my early career to this site as I was able to pretty much develop my client base from posting. I was a serving NSW Police Officer at the time, and my broking career developed after a poster suggested I apply for a job in Bunbury WA of all places.

The rest is now history, but I have become very passionate about the junior resource sector that even though it was hard and intense work, I loved every minute of it in the client advisory role.

Through advising at the start of the Nasdaq bubble and dealing with 500+ people over 12 years I developed an excellent understandng of what works and what doesn't. Fred Carach in 40 years a speculator, doesn't mince his words and I guess the ideal model is similar, although I would never recommend holding 106 stocks.

I am just going to stick to the model that gives you a chance of nailing a multi-bagger, without the fear of being stopped out of every stock you purchase. After floating IGO and MML there were numerous corrections along the way, and if you look at RMS and IGR there were more breakdowns than Lilo, yet we hung in there.

I remember taking an SMS when I was in Dublin (heavily jet lagged), stating that IAU were not happy with their sale of Paulsens to Northern Star (NST). This could have been disatrous yet Bill Beament managed to save the deal and they now appear to be going from strength to strength.

Quality has never let me down, I don't see how it will now. MEP to me is what speculation is all about, and to steal a line from the original Wall Street, "The break up value is higher".

Cheers

Budfox